EPACK Sustainable IPO gets 16.37 times subscription on the last day of offering
EPACK Sustainable has raised Rs 192 crore from major investors on January 18
On the last subscription day, Wednesday, the initial share sale of EPACK Sustainable was subscribed 16.37 times.
EPACK Duurzaam produces room air conditioners and small household appliances.
The initial public offering (IPO) saw bids received for 32,70,94,495 shares as against 1,99,77,615 shares on offer, according to NSE data.
The non-institutional investors (NIIs) category was subscribed 28.10 times, while the qualified institutional buyers (QIBs) quota was subscribed 25.50 times.
The portion meant for Retail Individual Investors (RIIs) attracted 6.29 times the subscription.
The IPO has a fresh issue of Rs 400 crore and an Offer For Sale (OFS) of up to 1,04,37,047 shares. The price range was fixed at Rs 218-230 per share.
EPACK Sustainable has raised Rs 192 crore from major investors on January 18.
At the higher end of the price range, the public issue is expected to mobilize Rs 640 crore.
The company was founded in 2002 and has integrated manufacturing facilities in Dehradun (Uttarakhand) and Bhiwadi (Rajasthan). It manufactures room air conditioners, components and small home appliances for leading Indian and MNC brands in India as an Original Design Manufacturer (ODM).
Axis Capital, DAM Capital Advisors and ICICI Securities are the managers of the offering.
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First print: January 24, 2024 | 7:45 PM IST